GIFT Nifty indicated a negative open for domestic indices BSE Sensex and NSE Nifty 50. Here’s a look at the key stocks in focus.
Stocks in focus: The GIFT Nifty traded lower during Wednesday’s early trading session, down by 0.20% at 19,763.5, indicating a negative opening for domestic indices NSE Nifty 50 and BSE Sensex. Benchmark indices NSE Nifty 50 and BSE Sensex ended in the red after a volatile day of trade on Tuesday. The Nifty 50 gave up 20 points to close at 19,733.55. On the other hand, Sensex slipped 0.1% to end at 66,459.31.
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“The domestic indices traded with a negative bias below the flattish trend, impacted by global peers. Despite this, mid- and small-cap stocks continued to outperform the benchmark index. IT stocks rallied on hopes of a soft landing for the US economy. India’s manufacturing activity remained robust, although marginally it moderated for the second consecutive month in July. The market direction in the upcoming days will be influenced by key data points, including auto sales figures, US PMI, and US job data,” said Vinod Nair, Head of Research at Geojit Financial Services.
Stocks to Watch on 2 August, 2023
Hero MotoCorp
The Enforcement Directorate conducted searches against Hero MotoCorp executive chairperson Pawan Munjal and others as part of a money laundering investigation. The raids were launched after the ED registered a case against them under the provisions of the Prevention of Money Laundering Act (PMLA).
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Zee Entertainment
IDBI Bank moved the National Company Law Appellate Tribunal (NCLAT) against Zee Entertainment to challenge an NCLT order, which rejected the private lender’s plea to initiate insolvency proceedings against the media major.
Adani Total Gas
Adani Total Gas reported fiscal first quarter profit at Rs 150.22 crore, up 8.6% in comparison to Rs 138.37 crore during the first quarter of FY23. It posted revenue from operations at Rs 1,135.35 crore, up 2.3% as against Rs 1,110.21 crore during Q1FY23.
Vodafone Idea
Vodafone Idea’s active subscribers loss in May was the highest in six months, data by the TRAI showed. During the month, the company’s active user base declined by 1.77 million to 205.3 million. Overall, the telecom operator lost mobile subscribers for the 26th straight month.
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Dalmia Bharat
Dalmia Bharat Green Vision, a wholly owned subsidiary Dalmia Bharat, has commenced commercial production of its 2.0 MTPA Greenfield Cement Grinding unit at Sattur, Tamil Nadu. The total cement manufacturing capacity of the Company stands increased to 43.7 MTPA.
Bharti Airtel
Bharti Airtel set 11 August as the record date to determine which shareholders would be eligble for the final dividend payment of FY23. The board recommended a dividend of Rs 4 for a fully paid-up equity share and Rs 1 for a partly paid-up equity share. The dividend is subject to shareholder approval.
Power Grid
Power Grid to invest Rs 554.91 crore for implementing a 85 MW Solar PV Power Project at Nagda, Madhya Pradesh.
Titan Company, Ambuja Cements, HPCL, Mankind Pharma, Adani Wilmar, Aditya Birla Capital, Metropolis Healthcare
Shares of Titan Company, Ambuja Cements, HPCL, Mankind Pharma, Adani Wilmar, Aditya Birla Capital, Metropolis Healthcare will be in focus today as the firms gear up to announce their first fiscal quarter earnings results.
